Accounts Payable
Accounts Payable tracks what you owe your suppliers. Upload an invoice and Iraca reads it for you, or enter one by hand — either way, you approve it, record payments against it, and get reminded before anything comes due.
It's one half of the Invoicing & Bookkeeping add-on, available to Grove and Canopy plan tenants, and requires the Accounting & Close add-on to already be active. The other half is invoicing your customers — what you bill and what you owe, in one place.
Activating the add-on
- Make sure Accounting & Close is already active — Accounts Payable posts every approved bill and payment straight to your ledger, so it needs somewhere to post to. Go to Billing → Add-ons and activate Accounting first if you haven't.
- Go to Billing, scroll to Add-ons, find Invoicing & Bookkeeping, and click Start 14-day free trial or Subscribe.
- A new Finance section appears in the sidebar containing Accounts Payable and Requests for Quote, alongside the customer-facing Invoices, Quotes, and A/R Aging.
Importing an invoice
Open Finance → Accounts Payable and click Import from file. Drop in a photo, PDF, or spreadsheet of a vendor invoice — Iraca reads it and fills in the vendor, invoice number, dates, and every line item for you. If the vendor matches an existing supplier, it's linked automatically; otherwise pick one from the list. Review the extracted details, adjust anything that needs it, and save.
Prefer to type it in yourself? Click New Invoice instead — it opens the same review screen, empty, ready for manual entry.
If you save an invoice with the same invoice number as one already on file for that vendor, Iraca flags it as a possible duplicate so you can double-check before proceeding.
Subtotal, tax, and other charges
Below the line items, a totals panel captures everything that makes up the bill:
- Subtotal — added up from the line items automatically.
- Tax, Shipping, and Other charges — add to the total.
- Discount — subtracts from it.
The Total updates live as subtotal + tax + shipping + other charges − discount, so what you save always matches the figure printed on the vendor's invoice. When you import a file, Iraca pre-fills tax, shipping, and any discount it finds — you just confirm them. Keep these in their own fields rather than adding them as extra line items, so the bill isn't double-counted and each charge posts to the right place in your ledger when the invoice is approved. (A discount can't be larger than the subtotal plus charges.)
Matching a bill to a purchase order
If the bill is for goods you ordered and received through a purchase order, link the two. Click Edit on a pending invoice, pick the supplier, and choose the purchase order from the Purchase order list. The list shows that supplier's received-but-unbilled orders, each with the amount Iraca accrued when the stock arrived — so you can check it against the bill total before linking.
This matters for your books. When you receive stock against a purchase order, Iraca records the inventory as an asset straight away, along with a matching accrual called Goods Received Not Invoiced — you have the goods, but the supplier hasn't billed you yet. Linking the bill tells Iraca that this is the invoice for those goods, so approving it clears the accrual and moves the amount into Accounts Payable, rather than counting the same inventory a second time.
If the supplier charged a different amount than the accrual, the difference is recorded as a purchase price variance. That's normal — quoted and invoiced prices often differ slightly.
Each purchase order can be billed once. If you void a bill, its purchase order becomes available again so you can raise a corrected one.
Bills that aren't for a purchase order — rent, utilities, professional services, and most other expenses — need no link and behave exactly as before.
Approving and paying
A newly saved invoice starts out Pending Review. While it's in this state, click Edit to fix the vendor, purchase-order link, dates, tax/shipping/other charges, or notes (line items aren't editable yet — re-import or re-enter the invoice if a line needs to change). Once everything looks right, click Approve — this posts the bill to your ledger and locks the invoice from further edits.
What gets posted depends on whether the bill is linked to a purchase order. A linked bill clears the Goods Received Not Invoiced accrual and credits Accounts Payable. An unlinked bill debits the expense or inventory account for each line and credits Accounts Payable.
Once approved, click Record Payment to log a payment against it — full or partial. Each payment posts its own ledger entry (crediting Cash) and updates the invoice's status: Partially Paid until the full balance is covered, then Paid.
Due-date reminders
Every day, Iraca checks for approved invoices due within the next 7 days or already overdue, and emails your account's owners and admins a summary. The Upcoming Payables card on your dashboard shows the same thing at a glance — how many bills are open, how much is owed, and how many are overdue.
What this add-on doesn't do yet
Accounts Payable tracks what you owe and reminds you to pay it — it doesn't pay suppliers for you. You still send payment through your own bank or however you pay suppliers today, then record it in Iraca. There's also no supplier login yet; invoices are uploaded or entered by your own team.